Hyundai Engineering and Construction Co., Ltd. (HDEC; ) is a major

construction company Construction is a general term meaning the art and science to form objects, systems, or organizations,"Construction" def. 1.a. 1.b. and 1.c. ''Oxford English Dictionary'' Second Edition on CD-ROM (v. 4.0) Oxford University Press 2009 and co ...

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed ...

. The company was founded by

Chung Ju-yung Chung Ju-yung or Jung Joo-young (; November 25, 1915 – March 21, 2001), was a South Korean entrepreneur, businessman and the founder of Hyundai Groups, one of the largest chaebols in South Korea. Raised as the eldest son of a poor Korean farm ...

in 1947 as the Hyundai Civil Works Company and was a major component of the

Hyundai Group Hyundai Group (; ) is a South Korean conglomerate founded by Chung Ju-yung. The first company in the group was founded in 1947 as a construction company. With government assistance, Chung and his family members rapidly expanded into various in ...

. Hyundai Construction and Hyundai Engineering merged in 1999. Hyundai Construction played a major role in the importation of Korean laborers to the

Middle East The Middle East ( ar, الشرق الأوسط, ISO 233: ) is a geopolitical region commonly encompassing Arabian Peninsula, Arabia (including the Arabian Peninsula and Bahrain), Anatolia, Asia Minor (Asian part of Turkey except Hatay Pro ...

to work on construction projects in the 1970s and 1980s. In the decade following 1975, Hyundai signed their first contract in the region for construction of a

shipyard A shipyard, also called a dockyard or boatyard, is a place where ships are built and repaired. These can be yachts, military vessels, cruise liners or other cargo or passenger ships. Dockyards are sometimes more associated with maintenance a ...

for the

Iranian Navy , ''Daryādelān''"Seahearts" , patron = , motto = fa, راه ما، راه حسین است, ''Rāh-e ma, rāh-e hoseyn ast''"''Our Path, Is Hussain's Path''" , colors = , ...

near

Bandar-e Abbas Bandar Abbas or Bandar-e ‘Abbās ( fa, , , ), is a port city and capital of Hormozgān Province on the southern coast of Iran, on the Persian Gulf. The city occupies a strategic position on the narrow Strait of Hormuz (just across from Musan ...

. 800,000 Koreans went to work in Saudi Arabia and another 25,000 went to Iran; Hyundai was their largest employer. Under creditors' management with

Korea Exchange Bank Hana Bank (; KEB Hana Bank outside South Korea) is a commercial bank headquartered in Seoul, South Korea. Since its establishment as Korea Exchange Bank in 1967, it provides the largest range of foreign exchange products in South Korea. History ...

as the largest creditor, Hyundai Group was split into several entities from 2001 to 2006.
As of March 2007, HDEC is the main shareholder of

Hyundai Merchant Marine HMM Co., Ltd. (), formerly known as Hyundai Merchant Marine, is a South Korean container transportation and shipping company. Overview HMM moves the largest portion of South Korea's exports, becoming the number one Korean national container car ...

, which is the de facto holding company of

. Hyundai Group and

Hyundai Motor Group The Hyundai Motor Group (HMG; ; ; stylized as HYUΠDAI) is a South Korean '' chaebol'' (loosely similar to a multinational conglomerate but without a central holding company or ownership structure) headquartered in Seoul, South Korea. The HM ...

(another spin-off from Hyundai Group) are both vying to purchase HDEC. In 2011,

became the new owner of Hyundai Eng. & Const.,co.,Ltd. This was determined by Korean banks' decision after defeating Hyundai (Merchant marine: the 2nd largest shipping co., in Korea after Hanjin shipping) Group.

Key landmark construction sites

Bangabandhu Bridge Bangabandhu Bridge, also known as the Jamuna Multi-purpose Bridge ( bn, যমুনা বহুমুখী সেতু ''Jomuna Bohumukhi Setu'') is a bridge opened in Bangladesh in June 1998. It connects Bhuapur on the Jamuna River's east b ...

, Bangladesh *Kyeong-bu (Seoul-Busan) express way *North Han river, Soyanggang Dam, multipurpose Dam *Seoul Gangnam apartment introduction in Korea during 1970 *Hyundai Ulsan shipyard *Hyundai Motor Ulsan complex *Ulsan Industrial complex *Posco Giant Pohang and Gwangyang (South-west of Korean peninsula) com *Jabel Ali Industrial harbour construction *

Suntec City Suntec City is a major mixed-use development located in Marina Centre, a subzone of the Downtown Core in Singapore, which combines a shopping mall, office buildings, and a Suntec Singapore Convention and Exhibition Centre, convention centre. Con ...

tower project, Singapore *Ulsan Grand Bridge *Geogeum Grand Bridge *Masan Changwon Grand Bridge *

Sheikh Jaber Al-Ahmad Al-Sabah Causeway The Sheikh Jaber Al-Ahmad Al-Sabah Causeway is a causeway in Kuwait with an estimated construction value of approximately US$3 billion Under China's Belt and Road Initiative, the causeway is part of the first phase of the Silk City project. The ...

, Kuwait

Notable people

The former president of South Korea,

Lee Myung-bak Lee Myung-bak (; ; ; born 19 December 1941) is a South Korean businessman and politician who served as the 10th president of South Korea from 2008 to 2013. Before his presidency, he was the CEO of Hyundai Engineering and Construction, and the ma ...

, was a former CEO of Hyundai Engineering and Construction.

References

External links

*
Hyundai Engineering & Construction FB Page
{{DEFAULTSORT:Hyundai Engineering And Construction Construction and civil engineering companies of South Korea Companies based in Seoul Companies listed on the Korea Exchange Construction and civil engineering companies established in 1947 Hyundai Motor Group South Korean companies established in 1947

Key landmark construction sites

Notable people

See also

References

External links